Latest news with #Zwipe
Yahoo
18-02-2025
- Business
- Yahoo
IDEX Biometrics ASA - Update on Arbitration Award
Reference is made to the announcement by IDEX Biometrics ASA ("IDEX") on 28 January 2025 regarding the arbitration decision on 27 January 2025 on the dispute between IDEX and Zwipe AS ('Zwipe'), whereby the arbitrator held in favor of IDEX on all counts. The due date for payments by Zwipe was 14 days from the date of the arbitration decision. Following such due date, because of Zwipe's financial situation, as communicated by Zwipe on Euronext Oslo Børs, IDEX has engaged in discussions with Zwipe about a payment plan for the arbitration award. However, such discussions effectively ended when Zwipe on 17 February 2025 announced that it will file for bankruptcy with the Oslo District Court. While Zwipe has paid the arbitration costs, Zwipe has made no payment to IDEX in compliance with the arbitration award. This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to MAR article 17 and section 5 -12 of the Norwegian Securities Trading Act. This stock exchange release was published by Marianne Bøe, Head of Investor Relations, on 18 February 2025 at 08:50 further information contact:Marianne Bøe, Head of Investor Relations, +47 91800186Kristian Flaten, CFO, +47 95092322E-mail:ir@ IDEX BiometricsIDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to more information, visit Trademark StatementIDEX, IDEX Biometrics and the IDEX logo are trademarks owned by IDEX Biometrics ASA. All other brands or product names are the property of their respective in to access your portfolio
Yahoo
28-01-2025
- Business
- Yahoo
Arbitration decision in favour of IDEX Biometrics
In the Prospectus published by IDEX Biometrics ASA ('IDEX' or the 'Company') on 13 November 2024, IDEX informed that the Company had requested arbitration at the Oslo Chamber of Commerce concerning a receivable from a customer who had not yet paid. Zwipe AS ('Zwipe'), the customer in question, disclosed in its prospectus dated 4 December 2024 that it was in arbitration regarding a warranty dispute with IDEX related to the delivery of parts communicated in its annual report 2023 and that the total dispute amount was around NOK 7.1 million. The Oslo Chamber of Commerce has on 27 January 2025, rendered its decision on the matter, which is a final resolution of the dispute. Zwipe has been ordered to pay USD 702,000 excl. VAT to lDEX plus late payment interest. The warranty counterclaim from Zwipe was dismissed in its entirety. Zwipe was further ordered to compensate IDEX for its legal costs, and pay for the full arbitration costs. Zwipe shall pay IDEX the receivable and the award of legal fees within 14 days from the date of the decision. This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to MAR article 17 and section 5 -12 of the Norwegian Securities Trading Act. This stock exchange release was published by Marianne Bøe, Head of Investor Relations on 28 January 2025 at 10:05 (CET).For further information contact: Marianne Bøe, Head of Investor Relations, +47 91800186Kristian Flaten, CFO, +47 95092322 E-mail:ir@ About IDEX Biometrics IDEX Biometrics ASA (OSE: IDEX) is a global technology leader in fingerprint biometrics, offering authentication solutions across payments, access control, and digital identity. Our solutions bring convenience, security, peace of mind and seamless user experiences to the world. Built on patented and proprietary sensor technologies, integrated circuit designs, and software, our biometric solutions target card-based applications for payments and digital authentication. As an industry-enabler we partner with leading card manufacturers and technology companies to bring our solutions to market. For more information, visit StatementIDEX, IDEX Biometrics and the IDEX logo are trademarks owned by IDEX Biometrics ASA. All other brands or product names are the property of their respective holders.
